Going Private • Building Materials

Blackford Capital Acquires Moro

On December 29, 2025, private equity firm Blackford Capital acquired building materials company Moro for 34M USD

Acquisition Context
  • This is Blackford Capital’s 2nd transaction in the Building Materials sector.
  • This is Blackford Capital’s largest (disclosed) transaction.
  • This is Blackford Capital’s 30th transaction in the United States.
  • This is Blackford Capital’s 3rd transaction in Massachusetts.

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M&A Deal Summary

Date December 29, 2025
Target Moro
Sector Building Materials
Buyer(s) Blackford Capital
Deal Type Going Private
Deal Value 34M USD
Advisor(s) Paramax (Financial)
Harter, Secrest & Emery (Legal)

Target Company

Moro

Natick, Massachusetts, United States
Moro is a construction products and services company, providing HVAC, electrical, structural steel, sheet metal ductwork and services to a variety of commercial and residential customers located in Pennsylvania, New Jersey, New York, Connecticut, Rhode Island and Massachusetts. Moro was founded in 2000 and is based in Natick, Massachusetts.
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Buyer Overview 1

Buyer

Blackford Capital

Grand Rapids, Michigan, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

Blackford Capital is a private investment firm that targets mature or growth-oriented manufacturing, distribution, and service companies located in North America. Specific areas of interest include paper; rubber and miscellaneous plastics; stone, clay, and glass products; primary metal industries; fabricated metal products; industrial machinery and equipment; and electronics and other electrical equipment. Blackford prefers situations where management is seeking to retire or exit. The Firm's target revenue range is between $20 and $100 million. Blackford Capital Partners was formed in 2000 and is based in Grand Rapids, Michigan.


Deal Context for Buyer #
Overall 31 of 31
Sector: Building Materials 2 of 2
Type: Going Private 1 of 1
State: Massachusetts 3 of 3
Country: United States 30 of 30
Year: 2025 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-27 Ace Controls

Humble, Texas, United States

Ace Controls offers control panel design, fabrication, and integration to deliver reliable solutions. Serving the water and wastewater industries, as well as the oil and gas industries, it caters to manufacturers of process equipment such as pumps, compressors, blowers, conveyors, mixers, and clarifiers. Ace Controls was formed in 2005 and is based in Humble, Texas.

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